AbbVie (NYSE:ABBV) Shares Down 1.8% - Time to Sell?

Shares of AbbVie Inc. (NYSE:ABBV - Get Free Report) were down 1.8% during mid-day trading on Wednesday . The stock traded as low as $172.50 and last traded at $173.61. Approximately 1,574,776 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 7,030,987 shares. The stock had previously closed at $176.80.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Guggenheim reiterated a "buy" rating and set a $214.00 price target on shares of AbbVie in a report on Thursday. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. BMO Capital Markets lifted their target price on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Wells Fargo & Company boosted their price target on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Finally, Raymond James reaffirmed an "outperform" rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $210.71.

AbbVie Trading Up 0.6 %

The firm has a fifty day moving average price of $198.47 and a 200-day moving average price of $187.76. The company has a market capitalization of $305.64 billion, a P/E ratio of 71.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the company earned $2.79 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.80%. AbbVie's payout ratio is presently 273.33%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares of the company's stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares of the company's stock, valued at $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is owned by company insiders.

Institutional Trading of AbbVie

Several institutional investors and hedge funds have recently bought and sold shares of ABBV. Fiduciary Advisors Inc. purchased a new position in AbbVie during the fourth quarter worth about $29,000. EnRich Financial Partners LLC grew its holdings in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Promus Capital LLC purchased a new stake in AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie in the 4th quarter worth approximately $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at $32,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.